AAR lowered its EPS estimate to $1.65-$1.75 on revenue of $2B-$2.05B, down from its previous estimate for $1.80-$1.90 EPS on revenue of $2.1B-$2.15B, saying previous guidance included assumptions on the number and mix of contracted Airlift positions, including certain awards that now seem unlikely to materialize.

Sales in AAR's aviation services business fell 7.6% Y/Y, with a 27% decline in sales to defense customers offsetting a 7% growth in sales to commercial customers; in technology products, lower sales of mobility products contributed to an overall 13% decline.

AAR Corp along with its subsidiaries is engaged in providing products & services including overhaul, repair & engineering services to aviation & government & defense markets. It is also engaged in design, manufacture, & repair of transportation pallets.